EUR/USD
Yesterday, the pair failed to leave the attraction and influence zone of the support levels at 1.1866-47 (weekly cloud border + minimum extremum). This morning, yesterday's low has been updated, followed by an attempt to continue the decline. If the price breaks through the above-mentioned supports and sharply consolidates below them, this will allow us to further strengthen the bearish mood. The downward pivot points in the higher time frames are still supported by 1.1704 - 1.1695 (previous minimum extremum + monthly Fibo Kijun) and 1.1619 - 1.1684 (target for the breakdown of the daily cloud).
The bears have the advantage in the smaller time frames. So, we are observing an active development of the downward trend. The intraday support can be noted at the borders of the classic pivot levels 1.1829 - 1.1810 - 1.1782. In case of an upward correction, the key levels in the H1 chart will form the resistance levels of 1.1857 (central pivot level) and 1.1895 (weekly long-term trend). A consolidation above will change the current balance of power and will also serve as the basis for the formation of a rebound from the encountered supports in the higher time frames.
GBP/USD
The pound started testing the support of the final level of the weekly golden cross (1.3754) due to yesterday's decline. The breakdown and further elimination of the cross will allow us to consider the next downward pivot points. They are the daily target for the breakdown of the cloud (1.3636 - 1.3698) and the monthly short-term trend (1.3551). The formation of a rebound from the met supports will raise the issue of returning to the levels passed the day before and retesting them. In the current situation, the bulls will initially consider the levels of 1.3850-72 (weekly Kijun + daily Tenkan).
Here, the favor is on the side of the bears. The supports of the classic pivot levels, which serve as intraday downward pivot points, are located at 1.3729 - 1.3700 - 1.3648 today. However, it should be noted that the upward correction is currently underway. With the development of the correction, the levels of 1.3781 (central pivot level) and 1.3842 (weekly long-term trend) will be the most important for the bulls. The nearest resistance is at 1.3810 (R1). A consolidation above it will change the current balance of forces in the smaller time frames. After that, the situation will depend on the results of interaction with the resistance levels (1.3850-72) in the higher time frames.
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Ichimoku Kinko Hyo (9.26.52) and Kijun-sen levels in the higher time frames, as well as classic Pivot Points and Moving Average (120) on the H1 chart, are used in the technical analysis of the trading instruments.
